Apr 28 2011

What is Fannie Mae?

Category: Business & Economy,Real Estate

Answer:

Fannie MaeFannie Mae is the short name for the Federal National Mortgage Association (FNMA). It is a government sponsored enterprise (GSE) and was chartered by Congress in 1968 to provide liquidity and stability to the U.S. housing and mortgage markets. It is now a private shareholder-owned company. Fannie Mae functions in the U.S. secondary mortgage market but rather than dealing directly with consumers, they work with mortgage bankers, brokers, and other mortgage partners to help guarantee they have money to lend to home buyers at affordable rates. Fannie Mae funds these mortgage investments for the most part by issuing debt securities in a number of capital markets. Fannie Mae was established as a federal agency in 1938.


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